Retirement

• Coverage limits and deductibles may need to be reviewed when you retire.  Most retirees look to minimize their expenses at retirement, so taking a higher deductible might be a good option.  As drivers approach 70 years of age, rates increase.  Sometimes this can be offset by taking a driving course designed for retirees.

• It’s important to review your coverage limits to make sure you are properly insuring your belongings.  Also, at retirement many couples consider moving.  It is important to consider adding umbrella liability coverage if it is not already purchased.  This important coverage will help protect your assets in the event of a lawsuit. 

• Most likely at retirement, retirees will be covered by medicare.  A supplemental policy is a good idea.  Life insurance is very expensive to purchase at this stage.  However, you should still review your existing policies to make sure they still meet the needs for which you designed them.